Jan 23
The biggest advantage of a whole life insurance is that since this policy is for the whole life of the person insured, all the benefits of the insurance is passed on to the beneficiary when the insurer dies, irrespective of his age. Life insurance the same is not the case with Term life insurance. In term life insurance the policy has to be active for any benefits to be received by the beneficiary. If the policy is not active then they do not get any benefits.